Xero (ASX:XRO) reaffirmed its fiscal year 2026 guidance and said that it anticipates total operating expenses to be about 70.5% of revenue for the fiscal year, according to a Tuesday filing with the Australian bourse.

The ratio is expected to be lower in the fiscal second-half compared with the first, the filing said.

The company also expects to more than double its fiscal year 2025 group revenue in fiscal year 2028, the filing said.